{"id":4647,"date":"2022-05-22T20:23:48","date_gmt":"2022-05-23T00:23:48","guid":{"rendered":"https:\/\/envisionco.net\/?p=4647"},"modified":"2022-05-22T20:23:48","modified_gmt":"2022-05-23T00:23:48","slug":"week-ending-5-20-2022","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=4647","title":{"rendered":"Week Ending 5\/20\/2022"},"content":{"rendered":"<p><strong>MARKET RECAP<\/strong><\/p>\n<ul>\n<li>A late Friday comeback saved the S&amp;P 500 from closing 20% below its January high. The index is down 18.7% from its January 3rd high. The Nasdaq is down by 28.2%. For the week, the overall US market fell by 2.78%, but international stocks managed a 1.35% rally. Bonds were up by 0.63% as the 10-year treasury yield fell by 15 basis points to 2.78%.<\/li>\n<li>The Dow closed lower for the 8th week in a row, the last time that happened was in the Great Depression.\u00a0 The S&amp;P 500 and the NASDAQ are down seven straight weeks, the longest streak since 2001. The main fear driving prices lower is now the threat of a recession as opposed to higher interest rates.<\/li>\n<li>A recession is on the way according to more and more executives and government officials. Wells Fargo CEO Charlie Scharf said &#8220;It&#8217;s going to be hard to avoid some kind of recession. Former Fed Chair Ben Bernanke said &#8220;Even under the benign scenario, we should have a slowing economy.&#8221; Everyone is in agreement that two things are certain in the near and intermediate term &#8211; higher prices and higher unemployment &#8211; stagflation.<\/li>\n<li>The fear of a recession is also starting to get priced into bond markets. The yield on the 10-year treasury peaked two weeks ago and has fallen as fears of a recession are starting to rise. Even some booming commodities are falling in price, nickel is down by 42% and copper is down by 13% since the March highs. Both metals benefit from a strong economy.<\/li>\n<li>Don&#8217;t look now but initial claims for unemployment insurance, while still at historically low levels, has started to turn up in recent weeks.<\/li>\n<li><a href=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4652\" src=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims-300x185.png\" alt=\"\" width=\"300\" height=\"185\" srcset=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims-300x185.png 300w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims-1024x631.png 1024w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims-768x474.png 768w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims-487x300.png 487w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Initial-Claims.png 1166w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/li>\n<\/ul>\n<p><strong>SCOREBOARD<\/strong><\/p>\n<p><a href=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Scoreboard-05-20-2022.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4655\" src=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/05\/Scoreboard-05-20-2022-89x300.png\" alt=\"\" width=\"89\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET RECAP A late Friday comeback saved the S&amp;P 500 from closing 20% below its January high. The index is down 18.7% from its January 3rd high. The Nasdaq is down by 28.2%. For the week, the overall US market &hellip; <a href=\"https:\/\/envisionco.net\/?p=4647\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4647","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4647"}],"version-history":[{"count":6,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4647\/revisions"}],"predecessor-version":[{"id":4656,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4647\/revisions\/4656"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}